Akron appreciation rates and housing market information

Akron housing market information

With 1,711 people, 836 houses or apartments, and a median cost of homes of $136,653, house prices in Akron are solidly below the national average.

single-family detached homes are the single most common housing type in Akron, accounting for 77.87% of the town's housing units. Other types of housing that are prevalent in Akron include large apartment complexes or high rise apartments (9.21%), mobile homes or trailers (8.73%), duplexes, homes converted to apartments, or other small apartment buildings (3.35%), and a few row houses and other attached homes (0.84%).

Dwellings in Akron tend to be quite small (one, two, or no bedrooms) and owner-occupied. In fact, 50.83% of the homes in Akron have two or fewer bedrooms.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Akron's housing was primarily built during this period, from the '40s through the '60s. A full 39.23% of the town's housing hails from this era. Other housing ages represented in Akron include homes built between 1939 and earlier (34.57%), and housing constructed from 1970-1994 (22.49%). There's also some housing in Akron built between 1995 and later (3.71%).

Vacant housing appears to be an issue in Akron. Fully 11.72% of the housing stock is classified as vacant. Left unchecked, vacant Akron homes and apartments can be a drag on the real estate market, holding Akron real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Akron home appreciation rates

Real estate appreciation rates in Akron have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.08% during the period.

NeighborhoodScout's data show that during the latest twelve months, Akron home appreciation rates, at -0.41%, have been at or slightly above the national average. In the latest quarter, Akron's appreciation rate has been 0.45%, which annualizes to a rate of 1.80%.

Relative to Colorado, our data show that Akron's latest annual appreciation rate is higher than 20% of the other cities and towns in Colorado.